Eversource 2010 Annual Report Download - page 77
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60
NORTHEAST UTILITIES AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
For the Years Ended December 31,
(Thousands of Dollars, Except Share Information) 2010 2009 2008
Operating Revenues $ 4,898,167 $ 5,439,430 $ 5,800,095
Operating Expenses:
Fuel, Purchased and Net Interchange Power 1,985,634 2,629,619 2,996,180
Other Operating Expenses 958,417 1,001,190 1,021,704
Maintenance 210,283 234,173 254,038
Depreciation 300,737 309,618 278,588
Amortization of Regulatory Assets, Net 95,593 13,315 186,396
Amortization of Rate Reduction Bonds 232,871 217,941 204,859
Taxes Other Than Income Taxes 314,741 282,199 267,565
Total Operating Expenses 4,098,276 4,688,055 5,209,330
Operating Income 799,891 751,375 590,765
Interest Expense:
Interest on Long-Term Debt 231,089 224,712 193,883
Interest on Rate Reduction Bonds 20,573 36,524 50,231
Other Interest (Note 11) (14,371) 12,401 25,031
Interest Expense 237,291 273,637 269,145
Other Income, Net 41,916 37,801 50,428
Income Before Income Tax Expense 604,516 515,539 372,048
Income Tax Expense 210,409 179,947 105,661
Net Income 394,107 335,592 266,387
Net Income Attributable to Noncontrolling Interests 6,158 5,559 5,559
Net Income Attributable to Controlling Interests $ 387,949 $ 330,033 $ 260,828
Basic Earnings Per Common Share $ 2.20 $ 1.91 $ 1.68
Diluted Earnings Per Common Share $ 2.19 $ 1.91 $ 1.67
Weighted Average Common Shares Outstanding:
Basic 176,636,086 172,567,928 155,531,846
Diluted 176,885,387 172,717,246 155,999,240
The accompanying notes are an integral part of these consolidated financial statements.